| Since the reform and opening, the rapid growth of China’s private enterprises has greatly promoted the economic growth and the improvement of people’s living standards. But in recent years, financing problem has become the bottleneck of the development of private enterprises. China’s banking industry has been in a heightened state of monopoly, due to information asymmetry and adverse selection problem, large state-owned enterprises always can get a large number of loans at a lower cost, but the small and medium-sized private enterprises are faced financing difficulty, financing channel not unobstructed problems seriously restrict the development of small and medium-sized private enterprises. Due to the many small and medium-sized private enterprises can’t get financing through the proper channels, the demand for capital from "the earth" to "underground", the demand for private lending has greatly increased. Due to a lack of government’s correct guidance and the specification, the private lending disputes emerge in endlessly,"run road incident" occurred in Wenzhou in2011and the incident of the real estate industry buried by private lending in2014in Handan both are typical examples. The status quo of China’s capital market is that the private capital is adequacy but lack appropriate investment channels, private enterprises lack formal financing channels. It seems that the traditional financial system has not meet the needs of economic development, Introducing private capital into the banking industry properly and setting up private bank that in view of the small and medium-sized enterprise financing is the effective way to promote the development of small and medium-sized private enterprises.In recent years, private bank has always been a hot problem in financial theory. Through the development of private bank to break the monopoly of the four major state-owned Bank and perfect the financial organization system is a consensus of experts and scholars, it also a kind of inevitable trend under the social background of international financial liberalization. In March2014, The release of the list of the first batch of private Banks is an important breakthrough in China’s financial reform, becoming ice-breaking attempt for private capital to enter the banking industry. Development of private bank is a real need to optimize the financial resource and improve the operating efficiency, it also objective requirement to meet the financial market reality. Development of private bank is the inevitable trend of China’s financial reform, but whether private capital can be smoothly into the banking sector? Whether the private capital itself has the capability to intervene in the banking industry? Whether does the country’s macro environment and the financial policy allow private capital into? Which way should the private capital choose structural intervention or capital intervention? Will the structure intervention of the private capital be marginalized by the State-owned Banks? Will the way of capital intervention can optimize the banking market structure and improve the efficiency of financial services? A series of problems are controversial in social from all walks of life.Solving these problems has a strong practical significance for the private capital into the banking industry.This paper, were discussed precisely based on these problems.First of all, This paper will introduce the development of private capital and patterns, the problem that private capital involved in monopoly industries are faced with and the controversy of experts and scholars on the definition of private Banks, the related study of private capital into the banking sector, These will lay a good foundation for the for later discussion.The second part use PEST model analyzes the the political environment, social environment, economic environment technology environment that the banking industry is facing from the macro point of view to judge whether the macro environment of banking industry allows private capital to enter; At the same time use the SWOT model analyzes the private capital’s own strengths and weaknesses, as well as the opportunities and threats that exist in the external environment. With the high-speed development of private capital, its advantage has been highlighted, but real involvement to the banking industry is still facing many obstacles. Then in view of obstacles that the private capital Banks faced with, The third part of this paper will analyze these obstacles from private capital itself, the banking industry characteristics, the’policy system of the country. According to these obstacles, the fourth part first introduced the case of Taiwan’s public bank privatization which has similar background of China’s reform, analyzed the path and the experience in the process of reform in Taiwan. And then combined with China’s status quo, using the game analysis model to verify the feasibility of the controversial path of structure transformation. Private capital intervenes in the banking industry in the form of borderline can fill the remaining existing banking market, solve the financing difficulties of small and medium-sized enterprises, individual consumers,"San Nong" and other "vulnerable groups", as well as can regulate private lending market, reduce the risk of financial system. Then this part further expounds the path of capital intervention,analyzes the way and feasibility of attempting to reform the property rights of the existing part of the bank.The last part put forward reasonable suggestions based on the Chinese banking industry faces legal environment and system defects and private Banks itself.On the whole, this paper is guided by the marxism economic theory, analyzes the main barriers and feasibility development path systematically about private capital into the banking industry. According to current situation of China’s financial reform, I put forward my views, hoping to be able to provides the certain reference value for China’s current banking industry reform. |
PDF Full Text Request